RED tape is said to be holding up £2.34billion in aid for Ukraine from the sale of Chelsea FC.
The cash was pledged when Roman Abramovich was barred from benefiting from offloading the club.
It should have gone to good causes in Ukraine — but has been stuck in a sanctioned account since US tycoon Todd Boehly’s consortium paid £4.25billion for The Blues in May last year.
The foundation set up to deliver the aid has said it cannot start work until it gets the green light from the UK and EU.
Acting CEO Mike Penrose, former Unicef UK chief, said: “We’re ready to go and we’re just waiting for approval.
“There are complexities and delays based around political approval both between the UK and the EU and within the UK.
READ MORE ON CHELSEA
“We won’t make any decisions until we know the money’s coming. We don’t want to end up with a charity but no money.”
Russian oil magnate Abramovich, 56, was forced to sell Chelsea when he ignored demands to condemn Vladimir Putin’s illegal invasion last year.
He agreed his share should go to good causes in Ukraine.
The funds have been earmarked for medical, housing and educational projects.
Most read in Football
Five months ago, UK Foreign Office minister Leo Docherty told the Commons that he hoped the cash was “on the start of its journey to Ukraine”.
The Foreign Office declined to comment last night.
Canada, meanwhile, has said it plans to seize £21million in sanctioned Abramovich assets to divert to reconstruction projects in Ukraine.
Source: Soccer - thesun.co.uk
